Arbeitspapier
Taylor rules for the euro area: the issue of real-time data
Recently, a number of studies have made an attempt to deal with the key issue of the incompleteness of information available to the central bank when taking its monetary policy decisions. This study adds to this literature by tackling the problem with regard to the euro area. The analysis is based on the simplistic assumption of the central bank following a simple monetary policy rule ?-la-Taylor. Along the lines of work suggested by Orphanides, the study tries to assess whether estimates of reaction functions which are carried out using revised data for the euro area can convey a misleading message in terms of policy recommendations.
- Language
-
Englisch
- Bibliographic citation
-
Series: Discussion Paper Series 1 ; No. 2004,37
- Classification
-
Wirtschaft
Open Economy Macroeconomics
Central Banks and Their Policies
- Subject
-
Taylor Rules
Reaction Functions
Monetary Policy
Euro Area
Real Time Data
Taylor-Regel
Geldpolitik
Europäische Wirtschafts- und Währungsunion
Reaktionsfunktion
- Event
-
Geistige Schöpfung
- (who)
-
Gerdesmeier, Dieter
Roffia, Barbara
- Event
-
Veröffentlichung
- (who)
-
Deutsche Bundesbank
- (where)
-
Frankfurt a. M.
- (when)
-
2004
- Handle
- Last update
-
10.03.2025, 11:45 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Gerdesmeier, Dieter
- Roffia, Barbara
- Deutsche Bundesbank
Time of origin
- 2004
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